Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pensions Retirement Funds topic
No spam. Unsubscribe anytime.
Bonney Lake councilors discuss state proposal to merge LEOFF 1 and 2 funds; consider letter of opposition
Summary
Council members raised concerns about a state proposal to combine the Law Enforcement Officers' and Fire Fighters' Retirement System plans and a possible transfer of funds to the state general fund; councilors discussed drafting a letter of opposition though no formal action was taken.
Council member Hubler said the state is discussing combining the LEOFF 1 and LEOFF 2 retirement plans and possibly transferring money into the state general fund, and she asked whether the City of Bonney Lake should send a letter opposing that action.
The issue arose during council open discussion. Council member Hubler said, “Right now they're talking about taking $1,000,000,000 from it to put into the state's general fund to offset $1,000,000,000 of, our deficit.” Council member Baldwin said the city should be concerned when “the government is trying to reach their hand into pockets that they never funded.”
Sherry Rosner Faulden stated that the City of Bonney Lake “does not have any LEOFF 1 members anymore, so it doesn't really affect our city,” but she said the proposal could still affect LEOFF 2 if the plans are merged. Rosner Faulden and other council members noted that many LEOFF 1 members were hired before 1972 and that the plan has relatively few remaining members.
Council members discussed approaching the mayor and city attorney about drafting a letter of opposition to state legislators. Council member Hubler said she would consider blind-copying the council on any relevant emails to avoid triggering reply-all exchanges; City Attorney Jennifer Robertson advised that one-way communications are generally safer to avoid risking an Open Public Meetings Act violation if multiple council members reply.
A council member reported finding a legislative draft identified as Senate Bill 5085 that would address consolidation of several older retirement funds and mentioned she would forward a link to the council. No vote or formal directive was recorded during the meeting; councilors agreed they should monitor the legislative session and consider sending an opposition letter if warranted.
